Brand Finance’s inaugural report WeChat tops ranking with brand value growth on the world’s 100 fastest growing brands over the last five years. Chinese brands claim two out of every three spots in the top 30!
WeChat has broadened its proposition since its inception. It has successfully leveraged its brand to develop an extraordinary level of vertical product integration, providing a range of complementary services. Now, this would require dozens of specialized apps to deliver in Western countries.
Alex Haigh, Director of Brand Finance, said: “WeChat has successfully entrenched itself in Chinese society, a feat unmatched by any other brand. However, despite attempts to launch in the Western world, the brand has failed to gain a strong foothold in the market against stiff competition from incumbents, such as Facebook and WhatsApp.”
Article source: https://www.thedrum.com/news/2019/12/03/wechat-the-world-s-fastest-growing-brand